Notes to the consolidated financial statements – Note 28

    2014
R’000		     2013
R’000		  
28. Borrowings          
  Loans secured by mortgage bonds over fixed property (refer to note 13) 13 617     29 494  
  Loans secured by lien over certain property, plant and equipment in terms of financial leases and suspensive sale agreements (refer to note 13) 345 428     99 221  
  Unsecured loans 12 452 349     10 813 980  
     Listed bonds 4 425 000     2 925 000  
     Listed commercial paper 2 083 385     2 134 840  
     Other 5 943 964     5 754 140  
  Floorplan creditors secured by pledge of inventories (refer to note 21) 665 814     696 832  
  Borrowings 13 477 208     11 639 527  
  Bank overdrafts 3 277 988     1 360 404  
  Total borrowings 16 755 196     12 999 931  
  Less: Short-term portion of borrowings (9 647 029)     (5 530 296)  
  Long-term portion of borrowings 7 108 167     7 469 635  
  Schedule of repayment of borrowings          
  Year to June 2014       4 169 892  
  Year to June 2015 6 369 041     4 561 708  
  Year to June 2016 2 911 905     1 000 925  
  Year to June 2017 694 251     100 886  
  Year to June 2018 1 576 374     1 509 308  
  Thereafter 1 925 637     296 808  
13 477 208     11 639 527  
  Total borrowings comprise          
  Borrowings 13 477 208     11 639 527  
     Local subsidiaries 7 847 280     6 451 277  
     Foreign subsidiaries 5 629 928     5 188 250  
  Overdrafts 3 277 988     1 360 404  
     Local subsidiaries 3 201 289     1 360 404  
     Foreign subsidiaries 76 699     –  
    16 755 196     12 999 931  
    %     %  
  Effective weighted average rate of interest on          
  Local borrowings excluding overdrafts 8,1     7,5  
  Foreign borrowings excluding overdrafts 2,4     2,3  

    2014     2013  
    Currency Nominal
interest rate
%		 Year of
maturity		   Carrying
value
R’000		     Carrying
value
R’000		  
  Terms and debt repayment schedule                  
  Terms and conditions of outstanding loans were:                  
  Borrowings of local subsidiaries         7 847 280     6 451 277  
     Loans secured by lien over certain property, plant and equipment in terms of financial leases and suspensive sale agreements ZAR 7,0 – 17,8 2015 – 2018   19 730     390  
     Listed bonds ZAR 8,8 – 10,2 2015 – 2019   4 425 000     2 925 000  
     Listed commercial paper ZAR 6,6 2015   2 083 385     2 134 840  
     Unsecured loans ZAR 7,8 – 12,0 2015 – 2020   653 351     694 215  
     Floorplan creditors secured by pledge of inventories ZAR 7,5 – 9,0 2015   665 814     696 832  
  Borrowings of foreign subsidiaries         5 629 928     5 188 250  
     Loans secured by mortgage bonds over fixed property GBP 2,2 – 2,5 2015 – 2020   13 617     29 494  
     Loans secured by lien over certain property, plant and equipment in terms of financial leases and suspensive sale agreements GBP 2,7 – 5,6 2015 – 2019   145 828     4 245  
    PLN 3,6 2015 – 2018   27 314     24 640  
    EUR 2,1 – 3,6 2015 – 2019   152 374     69 946  
    NAD 9,5 2015 – 2016   183     –  
     Unsecured loans GBP 1,8 – 9,6 2015 – 2023   471 982     451 575  
    EUR 1,0 – 9,3 2015 – 2031   2 293 690     2 080 470  
    HKD 0,8 – 3,1 2015 – 2018   1 123 660     1 005 351  
    SGD 1,0 – 1,3 2015 – 2018   652 844     655 442  
    CZK 1,6 – 2,9 2015 – 2019   485 893     724 276  
    PLN 3,4 2015 – 2018   48 532     48 254  
    NZD 5,6 2015   93 287     48 262  
    CLP 3,3 – 10,0 2015 – 2019   86 481     –  
    AED 0,3 – 4,5 2015 – 2020   25 621     22 845  
    Other 9,0 – 12,5 2015 – 2020   8 622     23 450  
  Total interest-bearing borrowings         13 477 208     11 639 527  
  The expected maturity dates are not expected to differ from the contractual maturity dates.

Refer to note 36 for further disclosure.

Notes to the consolidated financial statements – Note 28